Well been going light as I played tennis, average short now 3386!!
IT LONG TREND INTACT - Top this week
#141
Posted 21 August 2020 - 02:54 PM
#142
Posted 21 August 2020 - 06:21 PM
Only other time SPX breadth was below 50% 5 consecutive days and the index positive over those 5 days was June 15-21, 2000, up 0.60% for those 5 days. Bears already had a hold of NDX and it had a 5 day near 10% bounce. Broad market correction this week would seem to be over and we should rally out of the gate next week with much improved internals.
#143
Posted 22 August 2020 - 05:12 PM
Only other time SPX breadth was below 50% 5 consecutive days and the index positive over those 5 days was June 15-21, 2000, up 0.60% for those 5 days. Bears already had a hold of NDX and it had a 5 day near 10% bounce. Broad market correction this week would seem to be over and we should rally out of the gate next week with much improved internals.
Is that quote saying that in 2000 after the set up (SPX breadth was below 50% 5 consecutive days and the index positive over those 5 days), the NDX rallied 10%?
#144
Posted 22 August 2020 - 08:33 PM
No, NDX rallied 8% (correction) while SPX finished 0.58% up during the same 5 days. NDX only had to go up 3.5% this time to hold the SPX up.
........................UP.........Dn.........Adv%...........SPX cls.......NDX cls.......Count
#145
Posted 22 August 2020 - 08:50 PM
After this, over the next 8-10 days in June/July 2000
The NDX dropped 9%
The SPX dropped 3.7%